Macquarie Canada CEO Fleck to Leave, Replaced by Cristall

Sept. 20 (Bloomberg) -- David Fleck, president and chief
executive officer of Macquarie Group Ltd.’s business in Canada,
is leaving after almost two-and-a-half years at the bank and
will be replaced by Daniel Cristall.

Cristall, who runs oil and gas banking for Macquarie
Capital Markets Canada Ltd., will replace Fleck as CEO on Oct.
31, Fleck said in an interview today. Alex Rothwell, head of
corporate securities in Toronto for the unit, will become
president.

“Macquarie management and I came to this decision
together,” Fleck, 54, said in a phone interview from Toronto.
“It’s not adversarial at all.”

Macquarie, Australia’s biggest investment bank, is exiting
its real estate and leveraged-finance investment-banking
business in Canada, a person with direct knowledge of the change
said on Sept. 4.

Fleck, who was co-head of equity sales and trading at Bank
of Montreal before joining Sydney-based Macquarie in May 2011,
said he doesn’t yet have another position lined up.